Le mie ricette per la real estate communityCORESIS Management GmbH, a company based in Bad Homburg that specialises on real estate investments for institutional and private ultra-high net worth investors, and the fund-service-platform Universal-Investment are about to acquire the office property located at Nikolaus-Dürkopp-Strasse 8 in Bielefeld on behalf of the “Deutsche Kommunalimmobilien II” special property fund. The building, which was completed in 1996, offers around 7,500 sqm of office space. Its main tenant is the Employers’ Liability Insurance Association for the Administrative Sector (VBG). At the moment, 750 sqm of office space remain available at the property. Letting of the office accommodation will begin shortly.
The “Deutsche Kommunalimmobilien II” investment fund, which was initiated by CORESIS Management GmbH and launched on the platform of Universal-Investment for institutional investors, focuses exclusively on attractive office and administrative buildings occupied by public-sector or municipal tenants on long-term leases.
The property sale was transacted by Warburg-HIH Invest Real Estate GmbH which sold the office asset on behalf of an investment company belonging to the HIH group of companies. The investment company had acquired the property after its completion in 1998 and has held it in its portfolio ever since. Hans-Joachim Lehmann, Managing Director for Transaction Management at Warburg-HIH Invest, commented: “The sale of the office building in Bielefeld gives us the opportunity to convert its high capital appreciation potential into cash for the benefit of our investors. The ownership period of more than 20 years, during which the property generated stable cash flows, vindicates our long-term investment strategy.”
Source : Joint release